Peter Schiff is back with market crash prediction as Bitcoin nears $38k
Euro Pacific Capital CEO Peter Schiff warns of a market crash as spot Bitcoin ETF front-runners are getting ready for imminent approval. The approval of a spot Bitcoin (BTC) exchange-traded fund (ETF) is likely to result in a market “ crash ” as speculators will dump their positions once the ETF is approved. At least, this is how Euro Pacific Capital CEO Peter Schiff sees things to unfold further. In an X post on Nov. 9, Schiff attributed Bitcoin’s recent price surge to “speculators” who “continue to front run” a spot Bitcoin ETF. Yet, the rally might be short-lived given that speculators will immediately dump their ETF positions once the U.S. Securities and Exchange Commission (SEC) gives the green light to the ETF, Schiff believes. #Bitcoin is approaching $38K as speculators continue to front run a new #BitcoinETF. However, once that ETF is launched all of the speculators will have already bought. So when those buyers sell to take pro...